Coinbase Global, Inc. (NASDAQ:COIN) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its holdings in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,800 shares of the cryptocurrency exchange’s stock after selling 300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Coinbase Global were worth $10,627,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. increased its holdings in Coinbase Global by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 148,906 shares of the cryptocurrency exchange’s stock worth $26,531,000 after acquiring an additional 16,737 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in Coinbase Global in the 3rd quarter valued at $29,756,000. Lindbrook Capital LLC boosted its stake in Coinbase Global by 30.2% during the 3rd quarter. Lindbrook Capital LLC now owns 30,012 shares of the cryptocurrency exchange’s stock worth $5,347,000 after purchasing an additional 6,963 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Coinbase Global by 168.2% in the third quarter. Wellington Management Group LLP now owns 26,089 shares of the cryptocurrency exchange’s stock valued at $4,648,000 after buying an additional 16,363 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Coinbase Global by 237.5% in the third quarter. QRG Capital Management Inc. now owns 32,743 shares of the cryptocurrency exchange’s stock worth $5,834,000 after buying an additional 23,040 shares in the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on COIN. Oppenheimer reiterated an “outperform” rating on shares of Coinbase Global in a report on Monday, February 10th. Canaccord Genuity Group increased their price target on Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. HC Wainwright reaffirmed a “buy” rating and set a $350.00 target price on shares of Coinbase Global in a research note on Friday. Piper Sandler raised their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Mizuho decreased their price target on Coinbase Global from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $306.17.

Coinbase Global Price Performance

Shares of COIN opened at $235.38 on Monday. The firm has a market capitalization of $59.76 billion, a price-to-earnings ratio of 24.78 and a beta of 3.61. The firm’s fifty day simple moving average is $275.76 and its 200-day simple moving average is $240.54. Coinbase Global, Inc. has a twelve month low of $146.12 and a twelve month high of $349.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last posted its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. Equities analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Insider Activity

In other news, COO Emilie Choi sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $298.31, for a total transaction of $447,465.00. Following the completion of the sale, the chief operating officer now owns 177,576 shares in the company, valued at $52,972,696.56. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frederick Ernest Ehrsam III sold 7,614 shares of Coinbase Global stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the completion of the transaction, the director now owns 10,417 shares in the company, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 227,591 shares of company stock valued at $64,609,581. Insiders own 23.43% of the company’s stock.

About Coinbase Global

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.